Exhibit 4.2
The
securities represented by this Warrant and issuable upon exercise
hereof have not been registered under the United States Securities
Act of 1933, as amended (the “1933 Act”), or under the
provisions of any applicable state securities laws, but have been
acquired by the registered holder hereof for purposes of investment
and in reliance on statutory exemptions under the 1933 Act, and
under any applicable state securities laws. These securities and
the securities issued upon exercise hereof may not be sold,
pledged, transferred or assigned, nor may this Warrant be
exercised, except in a transaction which is exempt under the
provisions of the 1933 Act and any applicable state securities laws
or pursuant to an effective registration statement.
VOID AFTER 5:00 P.M. MOUNTAIN TIME ON JUNE 30,
2007
WARRANT TO PURCHASE __________ SHARES OF COMMON
STOCK
A4S TECHNOLOGIES, INC.
No. W-______
FOR
VALUE RECEIVED, A4S Technologies, Inc. (the “Company”),
a Montana corporation with its principal offices located at 3973 MT
Hwy 35, Kalispell, MT 59901, hereby certifies that
_________________ at _____________________ (the
“Holder”) is entitled, subject to the provisions of
this Warrant, to purchase from the Company, at any time, or from
time to time during the period commencing on the date hereof and
expiring at 5:00 p.m. Mountain Time, on June 30, 2007 (the
“Expiration Date”), up to __________ fully paid and
non-assessable shares of the Company’s Common Stock (the
“Warrant Stock”) at a price of $x.xx per share (the
“Exercise Price”). The number of shares of Warrant
Stock and the Exercise Price may be adjusted from time to time as
hereinafter set forth.
The
Holder agrees with the Company that this Warrant is issued, and all
the rights hereunder shall be held subject to, all of the
conditions, limitations and provisions set forth herein.
1.
Exercise of Warrant . Subject to the limitations set forth
below in this Section 1 and in Section 6 hereof, this Warrant may
be exercised in whole or in part, during the period expiring at
5:00 p.m. Mountain Time on the Expiration Date or, if such day is a
day on which banking institutions in Denver, Colorado are
authorized by law to close, then on the next succeeding day that
shall not be such a day, by presentation and surrender of this
Warrant to the Company at its principal office, or at the office of
its transfer agent, if any, with the Warrant Exercise Form attached
hereto duly executed and accompanied by payment (either in cash or
by certified or official bank check, payable to the order of the
Company) of the Exercise Price for the number of shares specified
in such form and instruments of transfer, if appropriate, duly
executed by the Holder or his or her duly authorized attorney. As
soon as practicable after each such exercise of the Warrants the
Company shall issue and deliver to the Holder a certificate or
certificates for the Warrant Stock, registered in the name of the
Holder. If this Warrant should be exercised in part only, the
Company shall, upon surrender of this Warrant for cancellation,
execute and deliver a new Warrant evidencing the rights of the
Holder thereof to purchase the balance of the shares purchasable
hereunder. Upon receipt by the Company of this Warrant, together
with the Exercise Price, at its office, or by the transfer agent of
the Company, if any, at its office, in proper form for exercise,
the Holder shall be deemed to be the holder of record of the shares
of Warrant Stock issuable upon such exercise, notwithstanding that
the stock transfer books of the Company shall then be closed or
that certificates representing such shares of Warrant Stock shall
not then be actually delivered to the Holder. The Holder shall pay
any and all documentary, stamp or similar issue or transfer taxes
and fees payable in respect of the issue or delivery of shares of
Warrant Stock on exercise of this Warrant.
2.
Fractional Shares . The Company shall not be required to
issue a fractional share upon the exercise of this Warrant, and the
aggregate number of shares issuable will be rounded up or down to
the nearest full share.
3.
Limitation on Transfer . Subject to the provisions of
Sections 6 and 7 hereof, any assignment or transfer of this Warrant
shall be made by presentation and surrender of this Warrant to the
Company at its principal office or at the office of its transfer
agent, if any, accompanied by a duly executed Assignment Form,
provided that the transfer complies with Section 7 of this
Agreement. Upon the presentation and surrender of these items to
the Company, the Company, at its sole expense, shall execute and
deliver to the new Holder a new Warrant, in the name of the new
Holder as named in the Assignment Form, and the Warrant presented
or surrendered shall at that time be cancelled.
4.
Rights of the Holder . The Holder shall not, by virtue
hereof, be entitled to any rights of a shareholder in the Company,
either at law or in equity, and the rights of the Holder are
limited to those expressed in this Warrant.
5.
Anti-Dilution Provisions .
5.1
Adjustment for Recapitalization . If the Company shall at
any time subdivide all its outstanding shares of Common Stock (or
other securities at the time receivable upon the exercise of the
Warrant) by recapitalization, reclassification or split-up thereof,
or if the Company shall declare a stock dividend or distribute
shares of Common Stock to all of its stockholders without receipt
of cash payment or other valid consideration, the number of shares
of Common Stock subject to this Warrant immediately prior to such
subdivision, dividend or distribution shall be proportionately
increased, and if the Company shall at any time combine the
outstanding shares of Common Stock by recapitalization,
reclassification or combination thereof, the number of shares of
Common Stock subject to this Warrant immediately prior to such
combination shall be proportionately decreased. Any such adjustment
and adjustment to the Exercise Price pursuant to this Section 5.1
shall be effective at the close of business on the effective date
of such subdivision or combination or if any adjustment is the
result of a stock dividend or distribution then the effective date
for such adjustment based thereon shall be the record date
therefor.
Whenever
the number of shares of Warrant Stock purchasable upon the exercise
of this Warrant is adjusted, as provided in this Section 5.1, the
Exercise Price shall be adjusted to the nearest cent by multiplying
such Exercise Price immediately prior to such adjustment by a
fraction (x) the numerator of which shall be the number of shares
of Warrant Stock purchasable upon the exercise immediately prior to
such adjustment, and (y) the denominator of which shall be the
number of shares of Warrant Stock so purchasable immediately
thereafter.
5.2
Adjustment for Reorganization, Consolidation, Merger, Etc .
In case of any reorganization of the Company (or any other
corporation, the securities of which are at the time receivable on
the exercise of this Warrant) or if the Company (or any such other
corporation) shall consolidate with or merge into another
corporation or convey all or substantially all of its assets to
another corporation, then, and in each such case, the Holder of
this Warrant upon the exercise thereof as provided in Section 1 at
any time after the consummation of such reorganization,
consolidation, merger or conveyance, shall be entitled to receive,
in lieu of the securities and property receivable upon the exercise
of this Warrant prior to such consummation, the securities or
property to which such Holder would have been entitled upon such
consummation if such Holder had exercised this Warrant immediately
prior thereto; in each such case, the terms of this Warrant shall
be applicable to the securities or property receivable upon the
exercise of this Warrant after such consummation.
6.
Restrictions on Exercise Imposed by Federal and State Securities
Laws . Holder hereby acknowledges that neither this Warrant nor
any of the securities that may be acquired upon exercise of this
Warrant have been registered under the 1933 Act or under the
securities laws of any state. The Holder acknowledges that, upon
exercise of this Warrant, the securities to be issued upon such
exercise may come under applicable federal and state securities (or
other) laws requiring registration, qualification or approval of
governmental authorities before such securities may be validly
issued or delivered upon notice of such exercise. With respect to
any such securities, this Warrant may not be exercised by, and
securities shall not be issued to, any Holder in which such
exercise would be unlawful. As a condition to exercise, the Company
may require the Holder to sign a representation letter confirming
compliance with this Agreement and applicable federal and state
securities laws and other applicable laws.
7.
Transfer to Comply With the 1933 Act. This Warrant and any
Warrant Stock may not be sold, transferred, pledged, hypothecated
or otherwise disposed of except as follows:
(1) To a person who, in
the opinion of counsel to the Company, is a person to whom this
Warrant or the Warrant Stock may legally be transferred without
registration and without delivery of a current prospectus under the
1933 Act with respect thereto and then only against receipt of an
agreement of such person to comply with the provisions of this
Section 7 with respect to any resale or other disposition of such
securities, or
(2) &n